In an explanation of Pakistan’s debt situation, the Federal Ministry of Finance stated that the nation had paid off Rs 2,600 billion in debt early for the first time in its history.
Pakistan’s debt profile is now more manageable than it was in the past, officials emphasized.
A spokesman for the ministry claimed that lower interest rates and improved debt management contributed to lower borrowing costs. Pakistan was able to save Rs850 billion this year on interest payments as a result.
In the current fiscal year, the government has allotted Rs8.2 trillion for interest payments, up from Rs9.8 trillion the previous year.
